What is personal accident insurance?
Personal accident insurance form Tradesman Saver provides our customers with the financial support they need if they have sustained serious harm to themselves – even if not at work when the accident occurred.
If you run a company, and find yourself – or any covered member of staff – suffering an injury which leaves you no longer able to oversee its day to day affairs and consequently let down your customers – this could be disastrous for your business. Should you find yourself in this situation, Tradesman Saver can give you a lump sum payment to help cover business costs and replace any lost income. This also applies to anyone else employed by your business (if you add them to this policy), meaning you’re covered if your injuries leave any team members unable to work.
Why do you need personal accident insurance?
Personal accident insurance protects you as a result of any injuries sustained both inside and outside of the workplace, such as injury caused by violence, traffic accidents, and slips or trips. With this all-important cover, in the event of injury, a payment from your personal accident insurance policy can help your business continue to trade by funding things like retraining, recruitment, and medical expenses, as well as any personal costs you’d struggle to pay without money coming in. This keeps your business safe even if you or another key member of your team are left out of action.
Unlike public liability, personal accident insurance is not an automatic cover, it is an optional extension under all Tradesman Saver policies.
Tradesman Saver’s Personal Accident Cover
Our standard cover is:
- Up to £5 million cover for public and products liability
- £10,000 cover for any financial loss (£50K cover optional)
- Worldwide liability cover for temporary work abroad for up to 14 days (excluding the USA and Canada)
You’re covered by Tradesman Saver as soon as you purchase your policy at one fixed cost. As our accident insurance operates on a 24-hour, worldwide basis, you will be protected wherever and whenever an accident occurs. However, you and your employees are not covered if an injury is sustained due to a hazardous pursuit, deliberate self-harm, drug or alcohol use, or a criminal act.
Personal accident insurance is one of our optional covers, but our automatic cover package also offers cover against accidental death, which provides a lump sum payment if you or any of your employees are killed in a sudden, unexpected event. Our standard policy also includes public liability insurance, which covers you against any claims made if your business activities injure a customer or member of the public, and products liability, protecting you if any injuries are caused by one of your products. In addition, you’re also covered for financial losses inflicted on a third party, and legal expenses of up to £250,000.
To provide your business with the most comprehensive protection against potentially disastrous circumstances, you may want to take out personal accident insurance on top of our five-part automatic package. Injuries you’re covered for include major fractures, burns, the loss of limbs and senses, dislocation, and disability, as well as any hospital stays which last longer than 24 hours. Depending on the severity of your situation, you could be entitled to receive a lump sum of up to £200,000.
Please note that personal accident insurance is an optional cover that you can add to your policy alongside cover for your contract works.
Online & Anywhere
We like to keep things simple. Your quote, purchase and documents are all available online, anytime.
No need to wait for your documents. Our tradesman cover starts from the moment you purchase.
Public liability, products liability, financial loss, legal expenses and accidental death cover as standard.
Cashflow is important to every business. Spread the cost by paying in easy monthly instalments.
What Cover Do I Get With Personal Accident Insurance
The limits of cover you will get are:
|Permanent Total Disability||£100,000|
|Permanent loss of sight in both eyes||£50,000|
|Permanent loss of use of two limbs||£50,000|
|Permanent loss of sight in one eye||£25,000|
|Permanent loss of use of one limb||£25,000|
|Permanent loss of speech||£25,000|
|Permanent loss of hearing in both ears||£25,000|
|Permanent loss of hearing in one ear||£10,000|
|Permanent loss of use of:|
|A shoulder, elbow, hip, knee, thumb, wrist or ankle||£10,000|
|Any finger or big toe||£5000|
|Any other toe||£1000|
|Hospitalisation (Maximum 45 days and after a minimum 24 hours)||£100|
|Extended hospitalisation (for stays longer than 14 days)||£1000|
|A major fracture of:|
|Upper leg; vertebral body; Pelvis; Skull||£500|
|Vertebra other than vertebral body; lower leg; lower jaw; breastbone; shoulder blade; kneecap; upper arm; lower arm||£250|
|Lower leg; hand (metacarpals); foot (metatarsals); clavicle; coccyx; wrist (carpals) and Colles’ fracture ankle (tarsals) & Pott’s fracture||£100|
|Spine; back; hip||£250|
|Knee; ankle; shoulder or collar bone; elbow; wrist||£100|
|Any other joint||£50|
What Cover Do I Get With Short Term Income (sickness) Protection
In the event that you are unable to work as a result of accident or sickness, we will pay £250 Per Week or your gross weekly income — whichever is less, up to a maximum of 12 months.
What if i need extra cover?
Should the standard limits of cover not meet your requirements, please contact us to arrange a separate Personal Accident &/or Sickness policy.
Personal Accident Insurance: Frequently Asked Questions
Why is personal accident insurance important?
There are various types of insurance available to businesses, but many owners will often overlook the cover that protects arguably the most important part of the company—themselves. Without investing in personal insurance cover, your entire business could be thrown into disarray if you suffer an injury which leaves you permanently unable to work as a result. This may also have a huge impact on your personal life, as the lack of income could mean you struggle to pay for things like the mortgage and household bills. Personal accident insurance protects you and your business from these potentially dire financial implications. As well as being used to keep your business on track, the lump sum payout could also fund any retraining required for you to take on a new job, or make any necessary alterations to your home if your accident has left you with a disability.
Is personal accident insurance more important when I’m self-employed?
If you’re not in conventional employment, you aren’t entitled to sick pay. This means you could experience serious financial difficulties if an accident leaves you unable to work. In fact, the majority of small business owners claim that they can’t afford to take time off work even if they need to. There’s no guarantee that any money you have saved will be enough to cover the expenses following an injury. Taking out personal accident insurance gives you a financial safety net, providing you with a lump sum when you no longer have a regular source of income.
How much personal accident insurance do I need?
The payout you receive depends specifically on the particular injury sustained after an accident. You’re covered for up to £10,000 if you’re left unable to use your limbs, and £200,000 for the most serious of injuries. Please refer to the table above to see the payout you’re entitled to for each injury.
Does personal accident insurance cover you overseas?
Our personal accident insurance protects you for any permanent injuries you suffer. These don’t need to occur within the workplace for you to receive payment. Wherever you are in the world, you’re always covered by Tradesman Saver.
used for my husband’s business first then came back to do mine as it was so simple to arrange.
Be nice if the insurance was a bit wider to cover my other freelancer work.
Prices from TS were very competitive compared to my previous insurer. I called to confirm that domestic and commercial premises were covered for or business and they said Yes! Winner! Like all… Read more